If a bank does this, they have no flexibility in their lending and must meet Fannie Mae's and Freddie Mac's requirements in each loan.

If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

Find one that does NOT have high spend minimums and different pricing options to meet your needs.

I am completely new to the investing side and would love to find something to meet new people/learn as well as learn more about the city. 

But definitely something I will read up on in case I come across an opportunity that might be useful with.yes, please DM me the full list of Chicago meet ups!

And how can we align our approach to meet those expectations and improve our chances of securing financing?  

@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps:Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period.

And as an LP, I can do 75% of my due diligence from my desktop computer, the rest is going to the properties themselves, going to sponsor meetings, talking with other investors etc, which is a ton of fun. good luck :)  

The Wichita market currently does not have enough supply to meet the buyers need. 

Quote from @Monish Anand: I own 3 SFH rentals currently but am looking at new markets and so I want to meet the best real estate agents at the markets I'm considering.